Its business activities covered a wide range of industries, notably aerospace, defence, automotive, motorsports, transport and telecommunications.

Its car division worked closely with other vehicle manufacturers, most significantly Renault, prior to the decline and sale of Matra Automobiles during the early 2000s.

In addition to road cars, Matra entered into a wide range of businesses, eventually diversifying into media, weaponry, aeronautics, automobiles, and music distribution.

Privatization, bleeding through the Lagardère Group, sell-off of its profitable enterprises, and failure of its automotive division caught up and Matra went bankrupt in 2003.

During 1945, Matra (Mécanique Aviation Traction) was established, immediately beginning development of an ambitious twin-engine aircraft intended to be the fastest propeller-driven plane in the world.

[citation needed] During 1983, Matra launched an automatic (driverless) light rubber-tyred metro, the Véhicule Automatique Léger.

[citation needed] In February 1999, the firm's defence wing, Matra Hautes Technologies, was merged with French aerospace conglomerate Aérospatiale to form Aérospatiale-Matra.

[7] Lagardere, recognising the promotion value of the motorsport sector for garnering sales, decided that the company ought to be involved, leading to the creation of Equipe Matra Sports, which entered the French Formula 3 during 1965.

[10][11] Matra also competed in sports car racing from 1966 to 1974 winning the 24 Hours of Le Mans outright in 1972,[12] 1973[12] and 1974[12] and the World Championship for Makes in 1973 and 1974.

[2] Matra Automobiles was subsequently sold by Chrysler Europe to French car company Peugeot; during 1983, Lagardere arranged to buy the division back.

Shortly thereafter, a strategic partnership was formed between Matra and French vehicle company Renault, leading to the development of the Espace minivan.

[7][2] During 2001, production of the Renault Avantime, which was co-designed and built by Matra Automobiles, commenced; this vehicle did not sell well and was widely regarded as a failure.

On 10 July 2000, Aérospatiale-Matra merged with Spanish aircraft company CASA and German aerospace firm DASA to become part of EADS, which subsequently became the Airbus Group.